Civic Intelligence

Wheaton Academy Foundation

990 • Fiscal year 2017 • EIN 46-0944215

Aug 01, 2016 to Jul 31, 2017 • Filed on Jan 12, 2018

900 Prince Crossing RoadWest Chicago, IL 60185

(630) 562-7500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

14th percentile

-19%

Higher net margin than 14% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

68th percentile

10%

Faster asset growth than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

33rd percentile

-1.6%

Faster revenue growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,244,745

Up $207,491 (+10%) from 2016

Net Assets

Up

$2,244,745

Up $207,491 (+10%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Down

$76,209

Down $1,232 (-1.6%) from 2016

Expenses

Up

$90,574

Up $12,580 (+16%) from 2016

Net Income

Down

-$14,365

Down $13,812 (-2498%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2014: $2,043,430Liabilities 2014: $53,010Net Assets 2014: $1,990,4202014Assets 2015: $2,079,661Liabilities 2015: $4,901Net Assets 2015: $2,074,7602015Assets 2016: $2,037,254Liabilities 2016: $0Net Assets 2016: $2,037,2542016Assets 2017: $2,244,745Liabilities 2017: $0Net Assets 2017: $2,244,7452017Assets 2018: $2,400,427Liabilities 2018: $0Net Assets 2018: $2,400,4272018Assets 2019: $2,925,756Liabilities 2019: $0Net Assets 2019: $2,925,7562019Assets 2020: $3,243,479Liabilities 2020: $66,832Net Assets 2020: $3,176,6472020Assets 2024: $4,464,551Liabilities 2024: $66,015Net Assets 2024: $4,398,5362024

Highlighted filing

2017

Assets$2,244,745
Liabilities$0
Net Assets$2,244,745

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2014: $96,152Expenses 2014: $60,880Net Income 2014: $35,2722014Revenue 2015: $106,282Expenses 2015: $83,157Net Income 2015: $23,1252015Revenue 2016: $77,441Expenses 2016: $77,994Net Income 2016: -$5532016Revenue 2017: $76,209Expenses 2017: $90,574Net Income 2017: -$14,3652017Revenue 2018: $101,305Expenses 2018: $89,788Net Income 2018: $11,5172018Revenue 2019: $116,114Expenses 2019: $88,340Net Income 2019: $27,7742019Revenue 2020: $179,011Expenses 2020: $94,278Net Income 2020: $84,7332020Revenue 2024: $554,939Expenses 2024: $221,607Net Income 2024: $333,3322024

Highlighted filing

2017

Revenue$76,209
Expenses$90,574
Net Income-$14,365
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
Jan 12, 2018
Return Version
2016v3.0
Gross Receipts
$159,558
Mission and Program Overview

Mission

To hold and manage endowment investments to provide ongoing support to Wheaton Academy's mission and programs.

Support or benefit of wheaton academy

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,878,831$2,060,216▲ $181,385
Cash and Non-Interest-Bearing Accounts$83,260$108,624▲ $25,364
Total Assets$2,037,254$2,244,745▲ $207,491
Other Assets Total$75,163$75,905▲ $742
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$1,554,823$1,595,984▲ $41,161
Temporarily Rstr Net Assets$429,534$568,221▲ $138,687
Unrestricted Net Assets$52,897$80,540▲ $27,643
Total Net Assets Fund Balance$2,037,254$2,244,745▲ $207,491
Total Liabilities and Net Assets / Fund Balance$2,037,254$2,244,745▲ $207,491

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$1,984,357$41,161▲ $255,092$28,770$2,164,205
2016$2,023,889$42,341▼ $3,879-$1,984,357
2015$1,945,603$71,837▲ $93,686-$2,023,889
2014$1,774,368$62,160▲ $165,875-$1,945,603
2013-$1,687,189▲ $118,746-$1,774,368
Compensation and Service Providers

Board Members and Trustees

NameTitle
Carl HassChairman
Ginger JohnsonVice-chairman
Chris LesnerDirector
David MooreDirector
Del StonerDirector
Gary FranzDirector
Kevin ToddDirector
Randy RennDirector
Robert McdonellDirector
Kathryn RobinSecretary
David KohlmeyerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$41,161
Program Service Revenue
$0
Investment Income
$35,048
Other Revenue
$0
All Other Contributions
$41,161
Change in Net Assets
$-14,365

Audited Revenue Reconciliation

Revenue per Audited Statements
$68,214
Revenue Not Reported on Financial Statements
$7,995
Revenue Not Reported on Form 990
$221,856
Total Revenue per Audited Statements
$290,070
Total Revenue per Form 990
$76,209
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$53,809
Other Expenses$36,765
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$53,809--$53,809
Other Expenses$10,987$17,783-$10,987
Fees for Service Investment Mgmnt Fees-$7,995-$7,995
Total Functional Expenses$64,796$25,778$0$90,574

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$90,574
Expenses per Audited Statements$82,579
Total Expenses per Audited Statements$82,579
Expenses Not Reported on Financial Statements$7,995
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wheaton AcademyWest Chicago, IL501(c)(3)Scholarships$53,809
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Completed copy of form 990 is emailed to board members for review on their time. Any questions that arise are resolved.

Form 990, Part VI, Section B, Line 12C

The foundation is very sensitive to any conflict of interest infringments and has expectations that members will have the integrity not to enter into any investment that personally benefit them or a close friend/relative.

Form 990, Part VI, Section C, Line 19

All governing documents are made available upon request via email or hard copy.

Filing and Contact Details

Filer

Filer Name
Wheaton Academy Foundation
EIN
46-0944215
Phone
6305627500
Address
900 PRINCE CROSSING ROAD, WEST CHICAGO, IL 60185

Signing Officer

Name
Carl Hass
Title
Chairman
Phone
6305627500
Signed
2018-01-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carl Hass
Formed
2012
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
DUGAN & LOPATKA CPA'S PC
Address
104 E ROOSEVELT ROAD SUITE 102, WHEATON, IL 60187-5267
Preparer
Ron Marklund
Phone
6306654440
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Increase in cash surrender value 1,812.

FORM 990, PART XII, LINE 2C:

This process has not changed from previous years.

Financial Statement Notes

PART V, LINE 4:

The foundation has a policy of appropriating for distribution, each year, current income for scholarships as directed by the finance committee.

PART X, LINE 2:

The foundation files income tax returns in the u.s. Federal jurisdiction and illinois. With few exceptions, the foundation is no longer subject to u.s. Federal, state and local, or non-u.s. Income tax examinations by tax authorities for years before 2013. The foundation does not expect a material net change in unrecognized tax benefits in the next twelve months.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Increase in cash surrender value 1,812.

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt033826
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01984357
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt041161
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02164205
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt053809
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0255092
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt028770
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt016076
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02023889
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt042341
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01984357
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt061918
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-3879
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt016701
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01945603
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt071837
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02023889
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt070536
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt093686
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt07870
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01774368
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt062160
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01945603
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt048930
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0165875
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt01687189
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01774368
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt031567
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0118746
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt07995
IRS990ScheduleD/ExpensesSubtotalAmt082579
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt07995
IRS990ScheduleD/InvestmentExpensesNotIncldAmt07995
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0220044
IRS990ScheduleD/OtherRevenueAmt01812
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.74000
IRS990ScheduleD/RevenueNotReportedAmt0221856
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt07995
IRS990ScheduleD/RevenueSubtotalAmt068214
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, EACH YEAR, CURRENT INCOME FOR SCHOLARSHIPS AS DIRECTED BY THE FINANCE COMMITTEE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND ILLINOIS. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE AND LOCAL, OR NON-U.S. INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2013. THE FOUNDATION DOES NOT EXPECT A MATERIAL NET CHANGE IN UNRECOGNIZED TAX BENEFITS IN THE NEXT TWELVE MONTHS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2INCREASE IN CASH SURRENDER VALUE 1,812.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.26000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt090574
IRS990ScheduleD/TotalRevenuePerForm990Amt076209
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0290070
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt082579
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt053809
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0WHEATON ACADEMY
IRS990ScheduleI/RecipientTable/RecipientEIN0362388793
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0900 PRINCE CROSSING
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WEST CHICAGO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd060185
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ONLY ORGANIZATION WE PROVIDE GRANTS TO IS WHEATON ACADEMY. THE WHEATON ACADEMY FOUNDATION BOARD MONITORS THE GIFTS AND BALANCES OF THE FOUNDATION FUNDS AND DETERMINES THE AMOUNT TO WHEATON ACADEMY. THERE IS OVERLAP BETWEEN WHEATON ACADEMY PERSONNEL AND THE FOUNDATION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COMPLETED COPY OF FORM 990 IS EMAILED TO BOARD MEMBERS FOR REVIEW ON THEIR TIME. ANY QUESTIONS THAT ARISE ARE RESOLVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS VERY SENSITIVE TO ANY CONFLICT OF INTEREST INFRINGMENTS AND HAS EXPECTATIONS THAT MEMBERS WILL HAVE THE INTEGRITY NOT TO ENTER INTO ANY INVESTMENT THAT PERSONALLY BENEFIT THEM OR A CLOSE FRIEND/RELATIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST VIA EMAIL OR HARD COPY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INCREASE IN CASH SURRENDER VALUE 1,812.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0WHEATON ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WHEATON ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1WHEATON ACADEMY INSTITUTE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0362388793
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1474967070
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0OPERATION OF ACCREDITED HIGH SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1OPERATING AN INTERNATIONAL STUDENT PROGRAM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0900 PRINCE CROSSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1900 PRINCE CROSSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WEST CHICAGO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1WEST CHICAGO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd060185
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd160185
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd01

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